JCSD Trustee Services (JCSDTS) was founded in July 2008 for the express purpose of providing efficient, reliable and cost-effective trustee services to the financial services industry. The Company is a wholly owned subsidiary of the Jamaica Central Securities Depository (JCSD), which itself is a wholly owned subsidiary of the JSE.
Objectives of the JCSDTS
The objectives of the JCSD Trustee Services include:
- Providing cost effective trustee services to the financial services industry.
- Improving opportunities for capital formation through the provision of flexible trustee services.
- Providing retail repo participants with a reliable, efficient and secure trust arrangement for retail repo transactions.
- Providing back-office support to collective investment schemes.
The JCSD Trustee Services was established in July 2008 to provide transparent, reliable and cost-effective trustee services in line with the JSE Group’s diversification strategy.
The JCSD Trustee Services Limited (JCSDTS) has a clear mission and vision. Both the mission and vision statements speak to the strategic direction of the JCSD Group which includes the JCSDTS.
JCSDTS Board of Directors
The JCSD Trustee Services Limited (JCSDTS) is led by a Board of Directors comprising nine (9) members; six (6) of whom are independent directors. The Board is composed of:
- The Chairman of the JSE Board
- A member dealer representative
- A representative from the Ministry of Finance
- The Managing Director of the JSE
- The remaining members are Independent Directors
The Board of Directors ensure that the interests of all stakeholders are protected. Consequently, the strategic direction of the organization developed by the Management team are approved by the Board ensuring that it is consistent with the mandate of the company. The Board also approves the risk framework, policies, budget and systems that support the strategic direction. The JCSDTS develops a comprehensive strategic plan every five years. The strategies are translated into key performance indicators (KPIs) for the entire team.
The Board Committees serves all boards of the companies within the JSE Group. Each Committee has a written charter outlining its purposes and responsibilities. Committees must meet at least twice annually.
The JCSDTS has three (3) Units, namely Trustee Services Unit (TSU), Retail Repo Unit (RRU) and Fund Accounting Services Unit (FASU).